CIMdata PLM Industry Summary Online Archive
27 April 2005
Acquisitions
Nassda Announces Stockholder Approval of Agreement of Merger with Synopsys, Inc.
Nassda Corporation announced that its stockholders have voted to adopt and approve a merger agreement pursuant to which Nassda will be merged with and into a wholly owned subsidiary of Synopsys, Inc. More than 85 percent of the Nassda common stock outstanding on the record date were cast in favor of adoption and approval of the merger agreement. Excluding Nassda's officers and directors, individual defendants in the intellectual property litigation brought by Synopsys and the related parties of such individual defendants, more than 99 percent of the Nassda common stock outstanding on the record date were cast in favor of adoption and approval of the merger agreement at the Nassda annual meeting.
On December 1, 2004, Nassda and Synopsys announced the signing of the merger agreement under which Synopsys will acquire Nassda. Adoption and approval of the merger agreement by Nassda's stockholders satisfies one of the conditions to completion of the transaction. Subject to the satisfaction of the remaining closing conditions including the termination of the anti-trust review of the transaction by the Federal Trade Commission, the merger is currently expected to be completed on or about May 4, 2005.
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